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Tuesday, May 22, 2018

CHALK UP A VICTORY FOR THE MANIPULATORS

“Just cuz it’s non correlated doesn’t mean it’s not manipulated!”

Directly below, today’s M5 in GBPUSD with algorithm. The tan box is the time 
then BOE speakers were speaking to the British Parliament, roughly 2 hours 
from 8:15 - 10:15 server time, including BOE Governor Carney on the 
inflation report.


In prior blog posts, I have outlined the 2018 phenomenon of Cable making 
large moves just prior to major economic news releases or news events that 
have the potential to move markets … can it be any clearer from today’s action 
seen above, that yet again the manipulators are hard at work “gas lighting” the 
price higher to hit buy stops before the market moving news on inflation & the 
British economy start circa 8:15?

And if you’re gonna sit there and tell me that it’s the shorts in the market that 
were in panic mode … “well, that ain’t gonna fly. Why would they panic, they 
had all day yesterday to cover at their leisure over the entire course of the day 
… cover positions or hedge up, I don’t see anybody on the short side panicking 
… Longs? … bingo! … Cuz if you’re long, the last 14 days have not been kind, 
and if these BOE Twits come in “soft” you’re royally screwed, so how do you get 
the price up to sell, and not only liquidate longs, but establish new short positions? 
EASY PEEZEE: buy everything in sight starting about an hour to an hour and a 
half prior to the “blah blah, yada yada” and run the market into buy stops … the 
higher the better, and with a little help from the banks as to where the big stops 
are, sell a shipload of Cable a lot higher than it is when they started … what’s not 
to like”?

And so, here we go again, as the market takes off to the upside with thinning 
liquidity and lower volumes cuz people don’t want to trade or take positions in 
front of big news cuz they don’t particularly like getting whacked on a surprise 
[me included] … well guess what? … do you not think the manipulators don’t 
know this? Is it not easier to shove this crap higher when volumes & liquidity is 
low, and price is on a tear higher? And how many are selling the buy stops 
being hit off? [HINT: None!] The only ones taking the other side of the buy 
stops are the bank(s) & hedge fund pals in on the scam … and when the big 
stops are hit, the sell fills taken at or around 1.34900, it’s time to turn the tables 
and head south … “nice work if you can get it”!

Once the “fat lady” sings, it’s over, and the only thing left is crumbs for the 
specs … and through the whole thing, we still end up with only a 70-something 
PIP range, which is pathetic … no follow through, no nada, and the day ends 
up … are you ready? … another surprise “doji” formation in a smallish range 
“Oh look! How rare! Another variation of the “doji” spindle on the daily 
candlestick chart … gosh, we hardly ever see this! [drum roll for the eye roll into 
the back of my head.]” Directly below, the daily candlestick in GBPUSD, with 
commentary.


Turning to today’s GBPUSD market … you literally can’t make this shit up, 
cuz nobody would believe it, but here it is … and it’s been happening all year so 
far … manipulated up before the news, and then can’t do Mr. Jack Squat after 
the BOE Twits go “splat”! … and the really disturbing event today, is not the 
manipulation by longs to get out, it’s the market itself that can’t hold even the 
tiniest of rallies for longer than about 10 minutes before selling ensues in 
earnest … although this can obviously change in seconds, right now, this 
doesn’t foretell good things for Cable in the sessions directly ahead of us.

Two long trades today … PAMM up slightly, collectively about $18 … better 
than losing while treading water, but again today after the news, there isn’t 
anything to get excited about to warrant a position.

After the BOE news, price spends almost all day going down while the 
algorithm 46 EMA LOW ENVELOPE has a negative slope, AND price is 
above the blue box … and what that means of course, is that you got 2 signal 
generators that are at odds with each other, and that means “sit on your 
hands”. The key today for me, was the inability of Cable to hold a higher close 
price from yesterday … and quite frankly, the 2 long trades I made, I wasn’t 
too thrilled to be making them in the 1.34600’s area … “where’s this stuff 
gonna go? … hasn’t rallied at all in over 14 days, and I’m supposed to get excited 
on the long side after it’s been manipulated higher? … where’s the “buy fuel” 
gonna come from after shorts got blown out already? … yea, I dunno either”!

Can’t be short either, cuz price isn’t below the blue box … and really, the entire 
day outside the 60 - 90 minutes of manipulative action, is simply another day of 
frustratingly small FX ranges, stop hunts, and a market that goes literally 
nowhere. This was the 15th day in a row of this bullshit … in my historical 
database of approximately 20 years in Cable, I can’t find another period of 
time where closing prices for the day were within 140 PIPS for 15 days in 
succession [excluding Sunday night action] … this is truly extraordinary. 
Tomorrow sees inflation numbers & retail sales in the U.K. at 4:30 A.M. EST, 
and if this doesn’t get things going in one direction or the other, I may send my 
resume to the circus, cuz trading so long as I have, I’m eminently qualified for 
Pachyderm Sanitation Engineer removal service.

And you know, up $18 bucks … big whoop … but when the signals aren’t there, 
the market has shot itself in the foot pre BOE news, and then spends hours 
doing nada but drifting, whaddaya supposed to do that isn’t defined as “stupid 
shit” and doesn’t lead to trouble? “Yea, me neither”! As I said before, all we can 
do is wait this crap out, and not “push the envelope” when there’s nothing to 
push. So, tomorrow’s another day, and hopefully this string of extremely low 
range days ends … we’ll see … and with that, I’m outta here … until tomorrow 
mi amigos … Onward & Upward!!

PAMM Spreadsheet directly below.


Have a great day everybody!

-vegas

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